Household debts significantly under-reported in surveys: NY Fed paper


A New York Federal Reserve paper published on Monday finds credit card debt implied by consumer surveys reports is less than 50% of debts reported by official estimates.

Meta Brown, Andrew Haughwout, Donghoon Lee and Wilbert van der Klaauw, the paper's authors, compare household debt as reported by borrowers to the Survey of Consumer Finances (SCF), generally cited as the leading source of wealth data for the US, with household debt as reported by lenders to Equifax, a consumer credit reporting

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account